Watch Now: 2022 Year-End Tax Planning & Compliance for Privately Held Companies

Year-End Business Tax Planning

In this live webinar, AAFCPAs’ Business Tax Advisors covered Federal, State, and International tax planning strategies for privately held businesses. Listen to hear what you may need to consider now to optimize your 2022 tax position.

Topics Covered Include:

Federal Taxation:

Tax Credits
- Employee Retention Credit: Do you qualify, and how to calculate
- Research & Development Credits
- Other Federal Credits of which to be aware
Net Operating Loss use and limitation
Overview of the new IRS Form 7203: Used by S corporation shareholders to figure out the potential limitations of their share of deductions, credits, and other items that can be deducted on their returns

State & Local Taxation

Significant legislation/cases in state corporate income tax and sales & use tax
Impact of remote workers
Potential pitfalls of use tax
PTE tax updates
State credit and incentive programs
Due diligence considerations
Canadian tax considerations

International Taxation

- Permanent establishment and nexus in foreign countries, how outbound consulting and other activities across borders may require foreign tax return filing requirements
- Tax treaties which can prevent assessment of tax in these situations
- Form 1120Fs and protective U.S. returns for foreign companies.
- Schedules K-2s and K-3s for partners and flow-through investors
- Updates to GILTI tax and High Tax Exception
- FINCEN reporting changes coming in 2023/2024

Watch this Webinar OnDemand:

Speakers

Richard Weiner, CPA, MST (moderator), Kevin Cassidy, CPA, MSA, Kelly Zack, MST, Anthony Dello Stritto, CPA, MST

Learn more about all of AAFCPAs’ upcoming webinars here: 2022 Year-End Tax Planning & Compliance for Individuals, Families, and Trusts and 2022 Year-End Tax Planning & Compliance for Cannabis Businesses or register for all three webinars below.

About the Authors

Richard Weiner, CPA, MST

Rich has over 30 years of broad tax experience with a specialty in tax planning and consulting for private and publicly-held businesses. Rich has specific expertise in the Software, Bio-Technology, Medical Device, Life Science, Manufacturing, Retail, Professional Service and Publishing industries, as well as U.S. aspects of international taxation. He works extensively with European companies expanding into the U.S. market. Additional areas of focus include companies and stockholders in transition, including structuring of and planning for Mergers & Acquisitions, planning for changes in ownership and management, and adoption of tax methodologies with a view toward the long term. He is well known in his field and is a frequent speaker on a variety of tax related topics.

Kelly Zack, MST

Kelly is a senior leader in AAFCPAs’ Commercial Tax practice. She advises individuals, partnerships, corporations, and trusts operating in multiple states and municipalities on opportunities to save tax dollars through advanced tax planning and risk mitigation. She enthusiastically assists AAFCPAs clients in identifying all location-specific tax incentives and credits which could have a major impact on business entities and their owners.

Anthony Dello Stritto, CPA, MST

Anthony (Tony) provides proactive international, federal, and state tax planning, compliance, and business advisory services to multi-state and multi-national businesses in a variety of industries. His expertise includes tax provision preparation for both public and private companies. Tony advises C corporation clients on available tax benefits to minimize or prevent double taxation, including benefits made available as part of the 2018 Tax Cuts & Jobs Act (TCJA). He counsels flow-through entities on taxation of partnerships and S corporations as well as composite filings/non-resident withholding. He assists clients in understanding how to account for income taxes (ASC 740) and how to manage their compliance obligations.

Kevin Cassidy, CPA, MSA

Kevin specializes in providing federal, state, and local tax planning & compliance solutions for C Corporations, S Corporations, partnerships & their owners. He provides tax guidance on formation & reorganizations, deductions, income, and reporting & filing requirements. Kevin has strong experience planning, executing, and delivering innovative federal and state tax planning, consulting, and compliance expertise to clients. He conducts tax research related to federal and state income taxes, including pass-through entity taxation, consolidated/unitary filing requirements, and ASC 740 and FIN 48. Kevin has expertise in providing nexus analyses to determine if clients have multistate tax exposure and offers guidance on tax apportionment. He ensures complete client satisfaction through open communication, managing expectations, meeting deadlines, and proactively sharing tax saving strategies.